Sunday, June 23, 2024
HomeWorldAsiaSri Lanka Entrusts China-Built Airport to Indian and Russian Firms: A Strategic...

Sri Lanka Entrusts China-Built Airport to Indian and Russian Firms: A Strategic Economic Pivot

Sri Lanka to Transfer Airport Administration to Indian and Russian Companies

  • Sri Lanka plans to transfer the operational control of its $209 million Chinese-constructed airport to Indian and Russian corporations.
  • The move aims to minimize financial losses incurred by state-owned industries.
  • Mattala Rajapaksa International Airport (MRIA), funded by China EXIM Bank, has been a subject of controversy since its inauguration in 2013.
  • The airport will be managed by Shaurya Aeronautics (Pvt) Ltd. of India and Airports of Regions Management Company of Russia for 30 years.
  • Sri Lanka is currently in negotiations with China EXIM Bank to restructure the loan for the airport.
  • The airport was constructed under former president Mahinda Rajapaksa, who aligned the country with China.

(The story is published based on the data from a syndicated feed. However there can be minor changes from the original source article.)

From the Desk of TheHardNewsDaily


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Popular

Recent Comments